Combined tax revenues in Virginia decreased 19.3% in the third quarter of 2024 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.
Overall, Virginia collected $9.2 billion in taxes during the third quarter of 2024, compared to $11.4 billion in the previous quarter.
The majority of the state’s tax revenue was collected through income taxes ($5 billion) and general sales and gross receipts taxes ($3.7 billion).
In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.
The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.
| Type of Tax | Amount (millions) |
|---|---|
| Income Taxes | $5,042 |
| Sales and Gross Receipts Taxes | $3,675 |
| License Taxes | $273 |
| Other Taxes | $162 |
| Property Taxes | $4 |
Source: U.S. Census Bureau
